Ramping Up a Profitable New Compliance Program in Months
Developer of engineering tools driving new revenue throughout North America and Europe with Revenera
An engineering design software provider with customers throughout North America and Europe built a new compliance program from scratch.
- Build a new compliance program from scratch
- Start earning revenue quickly
- Expand to multiple geographical markets
- Quickly instrument products with Compliance Intelligence and ramp up a compliance program with Revenera Revenue Services
- Nearly 300 cases opened in the first year, with only one product instrumented
- A first round of 50 closed settlements averaged almost $10K each, representing nearly $500K in new revenue
- Growth in actionable infringement data for 15 straight months
TAKING A PROACTIVE, DATA-DRIVEN APPROACH TO SOFTWARE PIRACY
Engineers use the company’s software to design some of the world’s most advanced and connected electronic products and systems—and to manage their projects more efficiently than ever. One of its field’s market leaders, it serves customers throughout the Americas and Europe, as well as a growing number of engineering firms throughout the Asia Pacific region and beyond.
The software company had never systematically instrumented its products to identify piracy, and wasn’t at all confident that it understood the magnitude of its problem. Like many software companies, it had relied primarily on anecdotes, speculation, and tips from disgruntled employees, but it had no reliable data to set priorities for enforcement, or to pursue specific infringers.
CHOOSING THE BEST SOLUTION
Not knowing exactly what to expect, the company decided to partner with Revenera on a pilot compliance program. During 2017, it instrumented the latest version of one major product. Within weeks, Revenera had moved through the technical milestones required to accurately identify piracy, and the company could begin identifying and pursuing leads.
As trustworthy data rolled in, the company began tasking Revenera with pursuing leads in eastern and southern European markets. In these geographies, it had no previous compliance resources, and expected that leads might be challenging to pursue. As Revenera quickly demonstrated success in these markets, the company expanded the program throughout Europe and the Americas.
JUMPSTARTING A SUCCESSFUL COMPLIANCE PROGRAM AND MOVING FORWARD
Working with Revenera, the company rapidly closed 50 settlements averaging nearly $10,000 per deal—generating nearly $500,000 in new revenue. Most settlements represented one or two seats, though some covered larger infringements.
Right behind this first round of settlements, another 200 cases are currently in progress. Moreover, as Revenera Compliance Intelligence has been embedded in new point releases, the amount of actionable infringement data collected by the software company has grown for fifteen straight months.
That’s likely to increase further as the company instruments additional products, and more customers upgrade to instrumented versions of their current software. Even more leads will be available if the company decides to widen its compliance program to additional countries it has currently chosen to defer.
The company now has comprehensive and reliable information to prioritize and strategize enforcement. On a day-to-day basis, Revenera collaborates closely with it to start pursuing leads, build proposals, respond to communications from infringers, and close deals. With a set of highly-effective technologies and processes in place, the company expects to generate double-digit annual growth in compliance revenue for years to come.